Philippines Producer Prices Rise 6.4%

(RTTNews) - The Philippines' producer prices increased at a softer rate in November, while they declined from the previous month, data from the Philippine Statistics Authority showed on Thursday.

The producer price index increased 6.4 percent year-on-year in November, following a 7.3 percent growth in October.

The latest inflation was mainly due to a 13.8 percent increase in prices in the manufacturing of coke and refined petroleum products.

Meanwhile, prices for the manufacture of machinery and equipment except electrical and printing, and reproduction of recorded media declined by 0.3 percent and 0.2 percent, respectively.

On a monthly basis, producer prices fell 0.7 percent in November, after a 0.1 percent increase in the previous month.